BUSINESS BRIEFS

Flat tax may be lower than 20%

THE FIGURE quoted for an envisioned flat tax rate of 20 percent for both income taxes and VAT may not be the final figure, according to Finance Minister Ivan Mikloš.

"I know that even lower rates are conceivable, but it is necessary to ensure that there are no unfavourable effects on the state budget," said Mikloš.

He added that a drop of 1 percent in the tax rate would mean a reduction in state income of approximately Sk6 billion (€146 million).

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